Ørsted completes divestment of 50 % stake in Hornsea 3 Offshore Wind Farm

Danish offshore wind developer Ørsted A/S has announced it has completed the divestment of a 50% stake in its Hornsea 3 offshore wind farm in the United Kingdom, selling that equity share to funds managed by US investment firm Apollo.

Hornsea 3, part of the Hornsea zone in the North Sea, with an installed capacity of about 2.9 GW, enough to power millions of homes. The deal, first disclosed in November 2025, valued the transaction at several billion euros and marks a major farm-down in which Ørsted brings in a strategic partner to share both ownership and future funding responsibilities for the project.

Under the agreement, Apollo-managed funds now own half of the Hornsea 3 project, while Ørsted retains the remaining 50% and will continue to lead construction and long-term operations. This divestment is part of Ørsted’s broader strategy to unlock capital from large offshore wind developments to strengthen its balance sheet and support ongoing and future renewable investments.